Happened before. It's why I knew about them. I've only had BK'd shares and they survived went to pennies and ended almost 2 bucks. I got out .50 and left a lot of cash on the table. =(
Almost ever RS I've seen goes down 30-35% after the RS. Some 50+% and I've seen that happen quick. RS's are NOT GOOD as it gives a bigger runway for SHORTS to feed and the possibility of more shares being sold into the market. It creates more downside risk and uncertainty. Uncertainty is a SHORTS wet dream.
The only good thing is you can get discounted shares if you've got the cash and then the POP is MPO like.
They are trying to force an RS by keeping us under a buck, but we've only been under a buck for about 6 weeks. The right 'news' and SHORTS will be in trouble in the short term. Too many big POPS in oil/gas plays. 100% plus a day and more.
That's a nice multi week rally. 700%
MPO 250% mid day rally works for me too and they only had 12% SHORT. PGN has 24% SHORT.
SHORTS in oil/gas plays are sweating this weekend that there is no news, buyout or another up day in oil. I expect a pull back but if it panic buying then oil may have many more shorts needing to cover ASAP. Margin death calls is why I haven't shorted a stock. Just buy ETF's that do.
Forgot to add Schlumberger Ltd., the world's largest oil-field service company, said Wednesday it would buy smaller rival Cameron International Corp. for $12.7 billion in cash and stock.
Soros with a small purchase here in PGN but bigger buys in ACI and BTU
Icahn with FCX
Buffet with PSX
State Street with MHR
Just a few weeks back the media was hyping all those 'whales' who had sold oil, gas and commodity plays. Wonder if they'll hype their return and who else might be looking to BUY...
Other 'WHALES' have probably already started buying and will report soon.
Other companies will be looking to consolidate at these once a decade low prices...
Hedge Funds wanting the 'next' big moving industry.
Then all of us retail investors who are in, want in or will be in soon.
Oh and those SHORTS covering...LOTS of action as of late and even if were early to the party, it's looking like a party is about to be thrown here so....WHEWHEWW about fricking time!!!
Like to add, most oil stocks were up 15+% today and quite a few double that, but PGN 0.15% (LOL) Just under a million shares today so somebody wants to keep things quite around here.
Here in SF bay area they are talking about Caltrans repainting/reopening the 3rd lane (Richmond bridge) that has been reduced to two since the 70's. Traffic is BAD here in Norcal and gas is above 3 bucks except at Costco but that was before today's 10% spike! If gas was cheaper more would be driving but on weekends Hwy 101 can get packed in Sonoma County with all the tourists heading to the coast, wine country or just getting out and about. I meet lots of people from SF when I'm at events in SC and I've never understood that. Seems kinda far to drive to drink but....THEY DO...(LOL)
In the next 100 days there are just under 6,000 call contracts for 2.50 on PGN not that many puts though. So if they do cover I think we run HARD AND FAST!!!
I doubt we ever get divi's again as I'd expect us to be bought out before that happens. Down here the premium would SUCK so hopefully it'll be later after SHORTY gets squeezed on some good/unexpected news. =)
Dow up 619 PGN closes down just under 16.5%
Looks to me like the ' Superman stairway' up, up and away...
Up 10%, up 10% then down 8%
Up 23%(35% intraday) then down 16% Tomorrow?!? I'm guessing up 30+% .86 or better close which is higher than yesterday and today's highs. =P
I'm probably totally WRONG new all time low! (LOL) =P
Just looked at my NADL history and saw I bought back most of what I had in the 1.20 range. Bought back .59 today so 'buy and hold' has not been the best plan. Will continue to watch these two and my HERO closely.
Just sold half of my PGN to add NADL 25+% difference in the two. I've switched back and forth for a long time now sometimes holding both. It's rare to see one run without the other. Both good for my portfolio. =)
Dow up 400 at one point but closes down -200. However PGN UP 23%!!!
I can'r read goskiing's post but, I'm always expecting some serious 'unrest' in the middle east.
Wish I'd visited Egypt over a decade ago. Won't go near there for a while as I like my head attached to my lilly white American born body. (LOL)
Moving back in the right direction =)
They have the ability in many ways. The worst being a RS!!! As a shareholder I know how that usually KILLS the PPS.
Hope they do so without a RS